Minimum revenue guarantee summary

 

AssetRevenue Guarantee Threshold1Revenue Cap Threshold1Remarks
Gwangju 2nd Beltway, Section 1 Investment cost compensation2 Target cash flow of the concessionaire guaranteed
Gwangju 2nd Beltway, Section 3-1 90% 110%  
Incheon International Airport Expressway 80% 110% Partial revenue sharing in excess of 80% to 110% level
Woomyunsan Tunnel N/A2  
Baekyang Tunnel 90% 110%  
Cheonan-Nonsan Expressway 82% 110% Partial revenue sharing in excess of 82% to 110% level
Soojungsan Tunnel 90%
110% For toll revenue below 90%, Busan Metropolitan City is obligated to compensate 91.5% of the shortfall amount
Machang Bridge 75.78% 100% 50:50 revenue sharing with relevant authority in excess of expected revenue at 100% level
Yongin-Seoul Expressway3 70% 130%  
Seoul-Chuncheon Expressway3 70% / 60% 130% / 140% To change over a five-year period
70% / 130% until August 2019
60% / 140% from thereon to 2024
Incheon Grand Bridge 80% 120%  
  1. % of annual concession agreement projected revenue
  2. MRG provision removed as part of capital restructuring transaction
  3. No revenue guarantee applies if actual revenue is below 50% of the annual concession agreement projected revenue